Paradex’s ‘free bitcoin’ pricing glitch triggers mass liquidations, forces rollback
Paradex intends to roll back its appchain after a glitch briefly priced bitcoin at zero, triggering mass liquidations.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on every weekday.
Bitcoin ETFs led with $1.42 billion worth of investments as digital asset funds saw their highest inflows since October last week.
January 19, 2026, 2:53 pmBitcoin slid to $91,920 late Sunday in New York, down 3.8% from roughly $95,500, as a sharp risk-off impulse hit crypto markets and quickly bled into high beta majors. Ether fell as much as 5.3% to $3,177, while XRP and Solana underperformed with drawdowns of 10.4% to $1.847 and 9% to $130, respectively, as leveraged positioning was forced out.
January 19, 2026, 2:30 pmParadex intends to roll back its appchain after a glitch briefly priced bitcoin at zero, triggering mass liquidations.
Bitcoin is currently priced at $92,970, with a formidable market cap of $1.85 trillion. Over the past 24 hours, it has moved within an intraday range of $91,917 to $95,467 on a trading volume of $41.72 billion.
The attacker who looted more than $282 million worth of Bitcoin and Litecoin last week is on the move. In the fresh play, the attacker was spotted on-chain shifting funds across multiple blockchains. Around 928.7 Bitcoin (approximately worth $71 million) was bridged using Thorchain to Ethereum, Ripple, and Litecoin.
Bitcoin funds took in $1.55 billion while ethereum and solana added $496 million and $45.5 million, respectively.
Crypto funds recorded total inflows of $2.17 billion for the week ending January 16, 2026, according to CoinShares data. The weekly total is the largest since October 10, 2025, which came just before a major market downturn. Inflows were stronger early in the week but sentiment shifted on Friday, when $378 million in outflows occurred.
Bitcoin faces rising downside risk as macro pressure and weak technicals point to a possible drop toward $80,000 on a rising-wedge breakdown.
Buying activity among investors and traders has improved in the cryptocurrency market, with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP leading the charge. Investors’ growing adoption and interest in these leading coins underscores their potential to produce significant gains in the long term.
Bitcoin mining difficulty set for a 4% decline, the seventh negative adjustment in the past eight.
Starknet-based DEX Paradex reversed its blockchain to an earlier block after a database migration error briefly crashed bitcoin’s price to zero.